ADTRAN Announces Earnings

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ADTRAN (ADTN) announced that it earned 20 cents per share, beating estimates of 16 cents, though it falls short of the 56 cents per share in earnings reported a year ago.

Revenues were $162 million, missing estimates of $189 million and lower by by 15.6% year over year. Operating income was lower by 80% year over year to $10.3 million and operating expenses grew 19.3% year over year to $69.7 million.

Shares are lower by about half of one percent.

Competitor Alcatel-Lucent (ALU) reports earnings on November 9. The company reported a loss on weak demand last quarter, with the stock price having its biggest drop in over 13 years.